Millions poured into US presidential race

President George Bush’s record fund raising approached €187m as July began, leaving him with tens of millions in the bank and several weeks of private donations to come before he accepts a government cheque for his election campaign in early September.

Bush had spent roughly €129m on his re-election effort up the end of June – €9.75m of it last month – a campaign finance report he filed today with the Federal Election Commission showed.

Democratic rival Senator. John Kerry’s campaign said earlier this month that he had collected at least €26.9m in June through events and other fund raising, boosting his party-record total to more than €146.9m.

Like Bush, Kerry was to detail his contributions and spending in a report to the FEC.

When Bush and Kerry accept €59.9m each in public money for the autumn campaign, as they are expected to after they are nominated at the party conventions, it will be the only money they can spend on the presidential race from that point on.

But it doesn’t mean they will be on their own financially.

The Democratic and Republican parties can each spend roughly €16.4m in co-ordination with their presidential nominees, and the parties can pour in unlimited amounts on spending that is independent of the campaigns.